What is the issuance and circulation of PolySwarm (NCT) coins?

PolySwarm's native token, NCT, was initially issued through a private sale, with most of the tokens allocated to the development team and PolySwarm Foundation.

Dec 02, 2024 at 01:14 pm

What is the Issuance and Circulation of PolySwarm (NCT) Coins?

Introduction

PolySwarm (NCT) is a decentralized threat intelligence platform that leverages a global network of security researchers to analyze and classify cyber threats. These researchers, known as "Collective Intelligence (CI)," collaborate to identify and combat emerging threats, contributing to a more secure internet. The platform's native token, NCT, facilitates various operations within the PolySwarm ecosystem.

Issuance of PolySwarm (NCT) Coins

The initial issuance of NCT coins occurred through a private token sale in 2019. The purpose of this sale was to raise funds for the development and growth of the PolySwarm platform. A total of 180,000,000 NCT tokens were issued during this private sale.

• Token Distribution: The majority of the NCT tokens (153,000,000) were allocated to the development team and the PolySwarm Foundation, which oversees the platform's operations. The remaining 27,000,000 tokens were distributed among private investors.
• Token Lock-Up: To ensure stability and long-term commitment to the project, a portion of the NCT tokens allocated to the development team and the foundation were subject to a lock-up period of up to two years. This lock-up period provided a strategic reserve of tokens and prevented any potential market manipulation.

Circulation of PolySwarm (NCT) Coins

The total supply of NCT coins is 180,000,000. The circulation of these coins is determined by the number of tokens held by various market participants, including holders, active researchers, and liquidity pools.

• Circulating Supply: The circulating supply of NCT fluctuates based on market dynamics and trading activity. As of March 2023, approximately 90,000,000 NCT tokens are in circulation.
• Token Distribution: The majority of NCT holders are retail investors, followed by institutions and exchanges. Active researchers on the PolySwarm platform also hold a significant portion of NCT tokens as compensation for their contributions to the threat intelligence network.
• Liquidity Pools: NCT tokens are available on various decentralized exchanges (DEXs), where they are traded against other cryptocurrencies, such as Ethereum (ETH) and Wrapped Bitcoin (wBTC). These liquidity pools contribute to the overall tradability and accessibility of the token.